South America Soy Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The South America Soy Beverages Market is segmented by Type (Soy Milk and Soy-based Drinkable Yogurt), Flavor (Plain Soy Beverages and Flavored Soy Beverages), Distribution Channel (Supermarkets/Hypermarkets, Online Retail Stores, Convenience Stores, and Other Distribution Channels), and Geography (Brazil, Argentina, and Rest of South America).

Market Snapshot

 South America Soy Beverages Market
Study Period: 2016 - 2026
Base Year: 2021
CAGR: 5.2 %
South America Soy Beverages Market Size

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Market Overview

The South American soy beverages market (henceforth, referred to as the market studied) is projected to register a CAGR of 5.2% during the forecast period.

  • The growing vegan population and an increasing number of people with lactose intolerance are the key factors driving the demand for soy milk as a major milk alternative. Private label brands have played a pivotal role in the development of soy products, facilitated by the globally evolving retail landscape.
  • Moreover, there has been an increasing demand for plant protein nutrients among consumers. The growing awareness about health benefits has led to the rising growth of the market studied.

Scope of the Report

The market studied is segmented by type into soy milk and soy-based drinkable yogurt, whereas by flavor, the market is categorized into flavored and plain soy beverages. The market also includes sales generated through distribution channels, such as supermarkets/ hypermarkets, online retail stores, convenience stores, and other distribution channels. The report covers the topline sales value of major countries of the region, including Brazil and Argentina.

Product Type
Soy Milk
Soy-based Drinkable Yogurt
Plain Soy Beverages
Flavored Soy Beverages
Distribution Channel
Online Retail Stores
Convenience Stores
Other Distribution Channels
Rest of South America

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Key Market Trends

Growing Prevalence of Plant Protein

Consumers shifting toward plant-based proteins, grown organically and without genetically modified ingredients, has created new opportunities on grocery store shelves for soy-beverage manufacturers. Geographically, Brazil contributes the largest share in the regional plant protein market. Furthermore, high rate of production and the popularity of wheat and soybean in the region aid the popularity of soy-based dairy alternatives.

South America Soy Beverages Market Share

Supermarkets/Hypermarkets Remained the Largest Point of Sale

Supermarkets/hypermarkets have large consumer bases across the region. A common perception among consumers that fresh products will be a available in these supermarkets/hypermarket leads their way to these stores. As a result of which, supermarkets/ hypermarkets account for major sales of soy beverages across the region. Consumers prefer purchasing grocery products through supermarkets more, as it offers several products and brands to choose from, which saves time, energy, and money, owing to several promotional discounts.

South America Soy Beverages Market Growth

Competitive Landscape

The market studied is consolidated, owing to the presence of few dominating players in the country, including the Hain Celestial Group and Danone SA. However, the predominance of private-label brands portrays substantial competition to these players. Key players are focusing on acquisitions and mergers, in order to expand their geographical reach and increase their customer base.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products and Services

      5. 4.3.5 Degree of Competition


    1. 5.1 Product Type

      1. 5.1.1 Soy Milk

      2. 5.1.2 Soy-based Drinkable Yogurt

    2. 5.2 Flavor

      1. 5.2.1 Plain Soy Beverages

      2. 5.2.2 Flavored Soy Beverages

    3. 5.3 Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Online Retail Stores

      3. 5.3.3 Convenience Stores

      4. 5.3.4 Other Distribution Channels

    4. 5.4 Geopgraphy

      1. 5.4.1 Brazil

      2. 5.4.2 Argentina

      3. 5.4.3 Rest of South America


    1. 6.1 Most Active Companies

    2. 6.2 Key Strategies Adopted

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 The Hain Celestial Group

      2. 6.4.2 Danone SA

      3. 6.4.3 The Coca-Cola Company

      4. 6.4.4 Jussara SA

      5. 6.4.5 Lactalis

      6. 6.4.6 Campbell Soup Company

      7. 6.4.7 Kikkoman Corporation

      8. 6.4.8 Pureharvest

    5. *List Not Exhaustive


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Frequently Asked Questions

The South America Soy Beverages Market market is studied from 2016 - 2026.

The South America Soy Beverages Market is growing at a CAGR of 5.2% over the next 5 years.

The Hain Celestial Group, Danone S.A, The Coca-Cola Company, Jussara SA, Lactalis are the major companies operating in South America Soy Beverages Market.

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